Japanese Finance Minister, Yoshihiko Noda, announced the creation of an annual fund of $ 100,000 million (about 69,300 million euros) to counter the yen's strength through private initiative.
In a press conference, the Finance Minister invited Japanese companies to exchange yen for foreign currency and encouraged to make mergers and acquisitions abroad, with the help of this fund to leverage the strength of the yen.
Noda warned that the Government will monitor and control speculative operations with currency, while not ruled out the involvement of the executive, that "will to action" if necessary to weaken the yen on Friday after Wall Street reached in record high against the dollar.
At the close of the U.S. market, the dollar reached 75.95 yen a share, its highest level since World War II, while on Wednesday in Tokyo trading at the opening of the bag in the high band of 76 yen.
Japan has already intervened on 4 August, in the currency market to curb the rise of the yen with a payment record that exceeded four trillion yen (over 36,300 million euros) and the effects to lower currency will dissipate few days.
In the last year, Japan has intervened three times in the foreign exchange market to depreciate the yen, whose ascent hurts Japanese exporters by reducing their competitiveness and reduce their profits abroad when repatriated.
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